Skip to main content

Office

State Farm Anchored Office

1990 Country Pl Pkwy, Pearland, TX 77584

Listing Price: $3,400,000

Cap Rate
5.66%
Gross SF
7,560
Rentable SF
7,560
Price/Gross SF
$449.74
Lot Size
0.60 acres
Year Built
2013

Investment Overview

Marcus & Millichap is pleased to present the State Farm Insurance Agency of Pearland of?ce building located at 1990 Country Place Parkway Pearland, Texas – a suburb of Houston, Texas. The subject property is a 7,560-square-foot of?ce building that is 100 percent occupied by State Farm Insurance (78 percent) and Exit Realty (22 percent). This property is ideally located on Country Place Parkway – which is one-half block east of the South Freeway (Highway 288) feeder road. The South Freeway (Highway 288) is the main artery into the City of Pearland and provides easy access for the residents of Pearland to major employer hubs Houston Medical Center, The Central Business District, and The Galleria. The ?ve-mile population surrounding the property is 197,521 residents with the area expecting a 2.0 percent increase in population within the next ?ve years. Average household income within a two-mile radius of the property is $131,953. State Farm Insurance Agency of Pearland has been providing insurance and ?nancial services to the residents of Pearland since 2005. With $300,000.00 in planned improvements to the interior and exterior of the property in 2022, reinforces their commitment to the location and residents of Pearland. State Farm Insurance of Pearland will execute a ten-year lease at close of escrow. Exit Realty is currently in month 5 of a 60-month lease executed in 2022. Leases are triple net (NNN) with a reimbursed management fee.

Investment Highlights

  • 7,560-Square-Foot, 100% Occupied, Two-Tenant Office Building
  • Long-Term NNN Leases | Limited Landlord Responsibility
  • $300,000 Investment In Planned Improvements To The Exterior and Interior Of The Property
  • Ideally Located 14 Miles South of Houston, TX
  • Population within Five-Miles is 197,521 | Average Household Income Within Two-Miles is $130,000
  • Easy Access To Major Employer Hubs – Houston Medical Center, Central Business District, and The Galleria
  • 76,939 VPD along South Freeway 288 & Hughes Ranch Rd

Exclusively Listed By

Financing By

Office

State Farm Anchored Office

Listing Price: $3,400,000

Cap Rate
5.66%
Gross SF
7,560
Rentable SF
7,560
Price/Gross SF
$449.74
Lot Size
0.60 acres
Year Built
2013

Investment Highlights

  • 7,560-Square-Foot, 100% Occupied, Two-Tenant Office Building
  • Long-Term NNN Leases | Limited Landlord Responsibility
  • $300,000 Investment In Planned Improvements To The Exterior and Interior Of The Property
  • Ideally Located 14 Miles South of Houston, TX
  • Population within Five-Miles is 197,521 | Average Household Income Within Two-Miles is $130,000
  • Easy Access To Major Employer Hubs – Houston Medical Center, Central Business District, and The Galleria
  • 76,939 VPD along South Freeway 288 & Hughes Ranch Rd

Investment Overview

Marcus & Millichap is pleased to present the State Farm Insurance Agency of Pearland of?ce building located at 1990 Country Place Parkway Pearland, Texas – a suburb of Houston, Texas. The subject property is a 7,560-square-foot of?ce building that is 100 percent occupied by State Farm Insurance (78 percent) and Exit Realty (22 percent). This property is ideally located on Country Place Parkway – which is one-half block east of the South Freeway (Highway 288) feeder road. The South Freeway (Highway 288) is the main artery into the City of Pearland and provides easy access for the residents of Pearland to major employer hubs Houston Medical Center, The Central Business District, and The Galleria. The ?ve-mile population surrounding the property is 197,521 residents with the area expecting a 2.0 percent increase in population within the next ?ve years. Average household income within a two-mile radius of the property is $131,953. State Farm Insurance Agency of Pearland has been providing insurance and ?nancial services to the residents of Pearland since 2005. With $300,000.00 in planned improvements to the interior and exterior of the property in 2022, reinforces their commitment to the location and residents of Pearland. State Farm Insurance of Pearland will execute a ten-year lease at close of escrow. Exit Realty is currently in month 5 of a 60-month lease executed in 2022. Leases are triple net (NNN) with a reimbursed management fee.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower